uniSecurities Unit Trust records 112 percent growth

The uniSecurities Unit Trust (UUT) recorded a net assets growth of GHȼ5,260,109 in 2017 as against GHȼ2,477,787 in 2016, representing an increase of 112 percent.

Total revenue also rose from GHȼ571,664 to GHȼ899,666 during the year under review.

Mr. Simeon Tawiah, acting Managing Director of the UUT, disclosed this at the company’s 2017 Annual General Meeting in Accra on Friday.

He said during the same period, the number of outstanding units grew by 76 percent ending the year at 5,160,528.

Mr. Tawiah said the decline in yields from benchmark interest pushed the returns of UUT for 2017 to 20,444 percent from its performance of 25.18 percent.

He said the fund outperformed its benchmark of the one-year Treasury Note which ended at a rate of 15 percent.

‘We are very optimistic about the growth prospects of UUT and the returns that will be accompanying it in the medium to long term’, he said.

Mr. Tawiah said the Ghanaian economy is expected to improve and grow on the back of improved fundamentals mainly supported by robust oil and gas production and expected an increase in commodity prices.

‘We remain very optimistic given UUT’s underlying assets and their inherent quality that UUT would once again generate the much expected superior returns you have come to enjoy as our cherished unit holders’’, the Acting Managing Director added.